Syngenta Ventures has made an equity investment in Metabolon, a privately-held US biotechnology company focused on the use of metabolomics in research and diagnostics.
This is the first direct investment by Syngenta Ventures, Syngenta’s newly-established corporate venture capital subsidiary.
"The creation of Syngenta Ventures will complement our in-house R&D work and enables us to be even more involved in promising technologies and innovative products with external partners," says Robert Berendes, head of business development at Syngenta. "We need access to the best available new technologies in order to achieve the increase in agricultural output which will be vital over the coming years."
Metabolomics provides mechanistic insight and biochemical markers for complex biological processes. This technology aims to accelerate the development of plants with innovative new native and genetically modified traits.
Syngenta Ventures will take a seat on the board of Metabolon.
The equity investment was made in the series C financing of Metabolon which raised in total USD12.3m from a number of investors, including Syngenta Ventures. Financial details of the equity investment were not disclosed.
